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Bozi, Bob or Maxit sold a large chunk of the their SOLG shares many moons ago to BHP for 25p.
That valued SOLG nearer £400m at the time. You're argument is nonsense. It's about lining their pockets at the end of the day... they won't care much about reputations being tarnished by a 5p placing if they then rack up a nice £1.5bln asset sale. It's the latter that they will be known for.
Cut the head of the snake off an there's still time for the tail to waggle... that's why if you vote them down , you'll see a monetisation event faster than you think. That's the strategy... out them now rather than leave them to their cosy plans over the next 9 months+.
If the chinese are close to signing then they'll soon sign fast on the line if they think the deal is going to collapse and BHP are about to gain more influence.
Sometimes you just have to force issues. And if you have that power via a vote... then use it.
Greed will always win here and these CGP boys need a kick up the jack....sie
1 Dec 2023 14:34
Probably the start of multiple company updates prior to the AGM. It was a busy month leading up to last years AGM.
Ask yourself this question...
If the Board gets voted out, who will vote in a new Board?
The shareholders that voted the Board out...
But will it make any difference?
Bozi, it’s the transparent conjuring up of minor news, just before the AGM that has me annoyed….
We all deserve better after the last 12 months
I think there would be many who would be happy with 25p right now for APALA, the rest of the assets would then be left to Divi Up? sell off?
My post from 9.14 on Wednesday...
"It wouldn't surprise me if Scott has a few RNSs lined up ready to drip feed into the market going up to the AGM and keep the Autobots on their toes...
Even if they are like Porvenir and don't update the resource but talk about drilling...
Helipuerto and Rio Amarillo spring to mind as well as a couple of others, but we've had no update on the Cornerstone properties yet, e.g. Bramaderos.
Doesn't hurt to restate what we've got...the biggest exploration footprint in Ecuador..."
Orthern - we've seen eye to eye on plenty the last couple of years but I'm afraid to say that you're forcing it a bit too much this morning.
Market has cottoned on....no more empty gestures, please! Are these dusted off updates from another timezones! Scarred for life....that's how it's been, dangling carrots....
I wonder whether the audience for these RNSs are not investors, but the new government. The revised IPA remains unsigned and it's not unrealistic to think the new administration have asked the question of Solgold about what they have actually done with the land packages over the last few years. I've emailed the company asking about the IPA but not received anything back. If they miss their end of year deadline shareholder's deserve an update.
Again I disagree….. you might be right …. We’ll see
OK Fort, let's humour you.
So let's say either Maxit or one of their associates want the treasury shares at say 5p. That values the company at £150m and raises a paltry £8.5m.
How does that enhance Scott's, Maxit's or Bob's personal case? Do they really want to go down in history as the charlatans who let a tier 1 deposit go for a pittance? I know I wouldn't.
There's no doubt that the RNS barrage is a poor show and investors should be vocal about this in any comms with those parties. Let them know it isn't acceptable but don't automatically vote them down for the simple reason that there isn't a creditable alternative individual or team to take this forward quickly.
There needs to be an element of trust. Mather's positions, personal and others, Bob's 5% etc offers comfort that they're not going to do what you're suggesting they will, and if they do, then you follow the money-it's quite simple.
Many here have been invested long enough in Solg to know they will not deliver an updated (shrunk) PFS as targeted in q1… It will absolutely be kicked down the road to q2 even q3 with no clear explanation or rationale.
They have no need to, they can hide behind the SR silence as some form of excuse.. and they can string out the plebs a little longer…. issue the cgp shares to themselves and their friends claiming the need for funds, and no better, non dilutive option… the problem there, is Scott’s original 30 million fund, is now not much more than 10 thanks to his management decisions.
I think PFS will happen Q1 💯
DBW, yes ... they want a decent return. But as I said moons ago, if they can bag those 157m shares at 10p then that makes an offer price of 25p more than palatable to them due to the lowering of averages. It doesn't make it nice for you or I.
The stink has been around for a while now ... evidenced by the huge finance costs which Maxit have pocketed over the last 12 months. Not to mention the stock options and equity placing at 16p.
They are so aligned and greedy that I know pretty much nailed on that the way to extract an offer and see them act fast is to vote them down at the AGM. They will scramble around to save their own bacon... and a deal will be announced. If you believe that a low ball will be countered... then who cares what the offer is... it's about what follows. So why wait till Q2 or leave these numpties in control when you can force events by voting them down.
It's a gun ho policy but it's based on the knowledge of these guys greed. Vote them down and then you'll see them act. Simple as that. I know you prefer the wait and see policy but it only srves them greater and you less. There is no chance of a PFS update in q1... that's just a ruse. They'll go for H2 or string it out again as why not? What are you going to do about it? Once you vote them back in... they have 12 months and even then you'll be voting them back in next year lol!
The grades and the tonage look good.
More fantasy Fort.
How do you square all that with Scott and Bob's significant existing investment and, for example, Scott's option package at 17p.
Come on Fort, play the game for once.
Oh no not more gold and copper. The share price was already sinking under the weight of all that copper and gold and tier 1 finds lol
Fort the idea that these shares may be placed cheaply with “friendlies” has crossed my mind. It would stink but I guess it would mean no more dilution plus probably signal things were about to change ….. they’d want to ensure a decent return
Keep up the deramping - I want to buy more
Great update from Solgold. As Scott has outlined recently, we have never been in such a strong position than now!!
You should use the Stock Exchange web site.
RNS still not showing on here:
https://www.londonstockexchange.com/news-article/SOLG/espejo-project-update/16243733
I'm not seeing the rns releases on Lse
It’s this useless LSE website. Had to go to Solgold site to view
If the board want to ensure votes they could start by stop using the endless ‘strategic review’ as a mechanism to hide behind… as a useful tool to make no concrete decisions, just coast along behind… Collecting salaries and options.
The board could offer some outline as to progress and developments of their intentions to monetise… to show investors how the culture of non performance has ended…. To clearly indicate what decisions have been made… what directions we are going in, after the last 12 months of stagnation…
Coughing up some rock samples, just before an AGM is so transparent it’s pitiful.